California Health and Safety Code

§ 34377.4

HSC § 34377.4Div. 24 · Part 2 · Ch. 1 · Art. 5.5

Statute text

An authority may, in conjunction with the financing of multifamily rental housing pursuant to this article, finance the acquisition of commercial property for lease, subject to all of the following conditions:

(a)No more than 10 percent of the proceeds of any revenue bonds issued pursuant to this article may be used to acquire the commercial property for lease.

(b)The commercial property acquired will be located on the same parcel or on a parcel adjacent to a multifamily rental housing development.

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Legislative history

Added by Stats. 1988, Ch. 1610, Sec. 3.